Published on 10/1/2013 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1 million digital notes linked to S&P 500, Euro Stoxx
By Jennifer Chiou
New York, Oct. 1 - Barclays Bank plc priced $1 million of 0% digital notes due Oct. 16, 2014 linked to the lesser performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the lesser-performing index is at or above its initial level, the payout at maturity will par plus the 19% digital percentage.
Investors will receive par if that index's return is at or above negative 10%, and investors will share in losses at a rate of 1.1111% for every 1% decline beyond the 10% buffer.
Barclays is the underwriter with JPMorgan as placement agent.
Issuer: | Barclays Bank plc
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Issue: | Digital notes
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Underlying indexes: | S&P 500 and Euro Stoxx 50
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Amount: | $1 million
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Maturity: | Oct. 16, 2014
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If return of the lesser-performing index is at or above its initial level, par plus 19%; par for losses up to 10%; otherwise, 1.1111% loss for every 1% decline beyond 10% buffer
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Initial levels: | 1,692.77 for S&P; 2,927.35 for Euro Stoxx
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Pricing date: | Sept. 26
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Settlement date: | Oct. 1
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Underwriter: | Barclays with JPMorgan as agent
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Fees: | 1%
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Cusip: | 06741TP68
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